Freeman Stephen wrote:this is not an area ive did much research on but a thought occurred to me, and it might be a stupid one.

banks lend credit creating debt. the debt is sold at discount rates to people who will try to loanshark you for it. this might also be sold on are further discounted rates (probably maybe?).

at some point is it not possible for a. debtor to buy alleged debt at less than the credit?

A fascinating question, Stephen, one that I feel sure that I've come across before(?) It actually makes a lot of sense when you think about it. Put it this way, banks and so forth have had their money several times over and includes even the small amount that the DCA has given for the alleged debt, so they're on a win, win situation regardless. However, the DCA is the only one to take any risk here, since they gamble as to whether they'll get the alleged debtor to cough up anything at all. Me thinks that this is not about acting fairly, but rather the banks and so forth teaching us all a lesson we're not going to forget. Therefore, I don't see the banks as selling us the debt/s cheaply, mainly on the principal that they think that we're going to pay up eventually. Well, things are changing as we realize that we're all being taken for a ride, so, why buy debt cheaply, when we can just as well not pay out anything in the first place?

This report comes from the dark cupboard under the stairs..Lawyer/solicitor I am not - nor any kind of perverted sense of justice - opinions I have plenty but they are not to be construed as legal advice.